Hurricane Ida: Billions in flood damages uninsured, analysts say

Homeowners hit by Hurricane Ida now face a new challenge navigating the world of insurance claims, and there’s going to be bad news in store for some. Many thousands of homes were damaged as a result of flooding. But most standard home insurance polices don’t provide flood insurance, which is usually sold as a separate,

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NAR backs greater protections for homeowners in new flood insurance bill

The National Association of Realtors last week indicated it would support lawmakers in their bid to introduce new flood insurance legislation that would ensure some protection for homeowners against rate increases in the event a flood map changes.

NAR warns of ticking time bomb as National Flood Insurance Program expiry date nears

The National Association of Realtors is warning of a ticking time bomb as the expiration date for the National Flood Insurance Program nears.

Senate Votes in Homeowner Flood Insurance Affordability Act

The U.S. Senate voted 72-22 yesterday to approve the bipartisan Homeowner Flood Insurance Affordability Act with amendments made by the House. The bill curtails flood insurance rate increases that property owners are facing across the country.

Hurricane Sandy Victims Receiving Insufficient Funds for Repairs

To add to their woes, some homeowners whose properties were affected by Hurricane Sandy are now finding their flood insurance isn’t sufficient to cover essential repairs. According to the article in AOL Money.com part of the problem is due to errors made by adjusters who were quickly hired after the disaster. Apparently some policyholders are

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Homeowners Facing Huge Increases in Flood Insurance Costs

Changes to the National Flood Insurance Program has meant that many homeowners who live on the coast or in river valleys are seeing their insurance premiums soar. Early on in October part of a new law came into effect. The law is called the Biggert-Waters Insurance Reform Act of 2012, and according to the article

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10 Reasons to Re-think Your Homeowners Insurance

Bad economic times, millions of people desperate for a place to stay, something to eat, the world can look at times like something out of the film The Grapes of Wrath. But, for the homeowner, property crime is not the biggest reason to think about home insurance, Mother Nature also weighs heavily where financial loss is concerned. You don’t have to live in Tornado Alley to have your life blown away. There are many more pitfalls today’s property owners have to evade somehow. Can you afford NOT to understand them all?

SmarterSafer.org Urges Tax Savings Through NFIP Reform

SmarterSafer.org has sent a letter to Senator Patty Murray (D-WA) and Representative Jeb Hensarling (R-TX), urging the Joint Select Committee on Deficit Reduction to protect taxpayers and reduce inefficient federal spending by reforming the National Flood Insurance Program (NFIP).  Murray and Hensarling are co-chairs on the committee which is also charged with finding federal deficit

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Homeowners Unlikely To Be Covered For Hurricane Irene Flood Damage

Homeowners along the east coast who are slowly picking up the pieces following the devastation caused by Hurricane Irene at the weekend are bracing themselves for a second deluge – in repair costs. Even though most people have homeowners insurance, those who have suffered damage to their homes resulting from flooding – submerged basements, failed

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